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FG targets $8.79 trillion global BPO market, unveils outsourcing initiative 

The Federal Government has launched the Outsource to Nigeria Initiative (OTNI), a strategic policy to redirect the talents and skills that abound in the country with a target of capturing a significant portion of the global BPO market valued at $8.79 trillion. 

Vice President Kashim Shettima launched the initiative on Monday at the Gombe International Conference Centre.  

The VP noted that apart from producing millions of job opportunities and spurring Nigeria’s Business Process Outsourcing (BPO) and IT-enabled services sector into growth that has never been witnessed before, the OTNI will link global firms with the abundant talents and skills in Nigeria. 

According to Shettima, the spotlight is now beaming on Nigeria, following the nation’s “abundance of talent, a competitive cost structure, a rapidly improving ICT infrastructure, and a strategically advantageous location.” 

The Vice President who expressed confidence in the OTNI to turn around the economic fortunes of the country said,  

Shettima implored Nigerians to be patient with the Tinubu administration in respect of the economic decisions taken so far, explaining that though it may present some temporary challenges, they are a strategic investment targeted at strengthening the fabric of the nation’s economy. 

On his part, Gombe State Governor, Muhammadu Inuwa Yahaya, noted that the decision to launch the ‘Outsource To Nigeria Initiative (OTNI)’ in the state was not a mere coincidence, pointing out that it “is a testament to the State’s burgeoning potential and the exemplary strides we have made in fostering an enabling environment for technology innovation and economic growth.” 

Governor Inuwa explained that the partnership with Outsource Global is an indication of the tangible support the state government is willing to provide to businesses that choose to invest in Gombe State. 

Also speaking, the Founder/CEO of Outsource Global, Hajiya Amal Hassan, pegged the value of the Global BPO & ITES Market at USD 8.79 trillion US Dollars in 2024, with India and the Philippines dominating at least 60% of the market. 

She noted that Nigeria boasts of “the highest potential among key African countries,” and is expected to register the fastest growth in the African BPO industry backed by various tailwinds,” even as the nation’s “demographics are well-suited to take advantage of the current global trend in global business.” 

 

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